He states that he attempted to sell the property for months in a market that has "historically low" inventory, and even still, was unable to get anywhere near the sale price.

1 thing I would say is even in Baltimore inventory can be an issue. 

Ronan can sell the developers inventory very fast therefore the steep discount..

Even with the current market inventory is moving since it is a more affluent market used for building your equities and long term wealth. 

Id like to make clear that my niche market is heavy on cash flow given how very low the rental inventory is, and appreciation is slow due to the rural nature of the area.

Barrier to entry is better than much of CA, rents are high, inventory is low, jobs market is solid.

The only situation where I've seen it become successful is around the universities, specifically temple because of the amount of multi inventory.

We’re seeing a big shift on MLS-listed properties now compared to the peak a few years ago: much higher DOM for certain properties, much higher inventory in certain market segments, more price adjustments etc. lot of deals on the MLS these days because buyers aren’t active at all, while some sellers still think it’s 2022, they’re getting greedy and listing way too high then  don’t adjust quickly enough when they have zero showings or offers, and let the listing get stale, then eventually cave when all they’ve got in hand is a blood-sucking offer from someone like us ;).

I've mostly been looking in Norfolk and Chesapeake, but there doesn't seem to be much inventory at the moment.

It took a bit longer to sell than normal because inventory rose temporarily and we messed up our own comps because I bought a second model match unit in the same community a few weeks after the first purchase for $188,000.